Nirmal Bang: Overview
Nirmal Bang, one of most popular stock brokers as well as trading services provider in the country, has been around since 1986. Nirmal Bang offers complete stock trading services to all of its clients via multiple methods including online stock trading in the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Nirmal Bang: Overview
Based out of Mumbai, Maharashtra, the firm gained popularity because of its excellent stock trading platform available to the clients. Along with that, the firm also offers brilliant advisory services and effective trading software and algorithms to its customers.
Nirmal Bang is registered in India’s major stock exchanges like Bombay Stock Exchange Ltd (BSE), National Stock Exchange Ltd (NSE), National Commodity & Derivatives Exchange Ltd (NCDEX), Multi Commodity Exchange of India Ltd (MCX), National Multi Commodity Exchange of India Ltd (NMCE). Along with these, the company also is a membership being a Depository Participant (DP) in Central Depository Services (CDSL) and National Securities Depository Limited (NSDL).
Among the products, Nirmal Bang offers trading services for equities, derivatives, currencies and commodities. Among financial services, there is facilities to trade bonds, mutual funds, fixed deposits, etc, and there is a dedicated desk for Institutional customers and NRIs alike, which offers services like insurance, margin financing, clearing service, Portfolio Management (PM), Investment Banking.
Since it is a full-service broker, Nirmal Bang emphasizes on research which is visible from its in-depth and comprehensive research reports, available to customers. Research reports includes market insights, along with identifying and recommending investment opportunities for its customers, like timings of technical calls on equity, commodity and derivatives; IPO Watch, reports on currency’s options, etc.
Nirmal Bang : Trading Platforms
1. ODIN: ODIN is a light-weight downloadable application for computer platform, facilitating trading for frequent traders and active clients..
2. NET NET: Built using HTML, this is a web trading application provding all the basic features like charting, market watch, etc.
3. Beyond Mobile App: Beyond, a stock trading mobile application powered by Nirmal Bang, allows its customers to trade on-the-go in equities, derivatives, commodities and currencies. A risk management software that functions real time, and is connected to both Broking Back-office & DP Back-office during market hours.
4. LD-Client Level Software: LD Back office, a LIVE Back-office Software, is built using W2FP technology while being directly connected to the main database and provides the same amount of information a H.O. or Branch could provide. The application also offers access to a whole 28 different reports, which can be exported in multiple file formats and printed as well.
The company has presence in over 16 states, where you can visit any branch to trade.
There are dedicated phone numbers where you can call and trade, and an executive would put the order on your behalf.
Nirmal Bang: Account Opening Process
The account opening process is relatively straightforward. Simple head to the website and then enter your personal information. Upload your documents in the prompted area and then the different details as required. Once all of the things are verified, there would be an in-person verification process. After that, you should get the login credentials for your account.
Nirmal Bang is a full-service stock broker that offers a broad range of financial and non-financial services and products. They offer their users to trade in currency, commodities, derivatives, and equity in the stock market segments. It’s an NSE and BSE member and provides investment opportunities in IPO, Mutual funds, fixed deposits, bonds, and more. There are no account opening charges for both the demat account and a trading account—however, there a 200 rupees annual maintenance charge.
Opening a Demat and Trading account with Nirmal Bang
- Head to the official website of Nirmal Bang and choose the account opening options. It primarily refers to the opening of a demat account.
- After which, you will be prompted to enter your mobile number and email address.
- Once entered, then click enter and type down the OTP for verification purposes.
- After that, users will then have to upload their photographs with other application details. It could be address, full name, and so on.
- There are scanned copies of documents required such as bank statements, address proof, PAN number, cancelled cheque, photographs, etc.
- After all the above steps are done, there will be an application only regarding the bank account details and other financial oriented information to fill up.
- Verify all the information and documents given before signing on the final application for opening an account.
- Once done, you will be entitled to an in-person verification process.
- After this, you should get your login credentials on your mobile number or email address.
Note: Opening a trading account doesn’t require the above-given steps to be repeated. Its opened directly with the Demat account. However, you will have to request a trading account to be opened once the Demat account is setup.
Nirmal Bang Review
Nirmal Bang is a famous stockbroker in the country that has many services and trading platforms to offer. Though the charges might be comparatively higher on the brokerage side of things, it’s a compelling broker to have your trades associated with. There are plenty of trading options and ways to execute trades in the best possible scenario.
Nirmal Bang: Account Opening Charges
| Charge Type | Amount |
|---|---|
| Trading Account Opening Charges | ₹0 |
| Demat Account Opening Charges | ₹0 |
| Trading Account AMC | ₹0 |
| Demat Account AMC | ₹200 per year |
Nirmal Bang: Commodity Trading
Nirmal Bang also offers commodity trading to all its retail customers, in the sense that they have the provision to trade in commodities through futures and options in the market. Commodities like agriculture grains, oil, gas, precious and base metals are the few commodities available for trading.
Being a registered member of the Multi-Commodity Exchange of India Ltd. (MCX), National Commodity & Derivatives Exchange Ltd. (NCDEX), Spot Exchange and Indian Commodity Exchange Ltd (ICEX), Nirmal Bang can provide access to trade in various commodities on all these trading platforms.
About:
Nirmal Bang is one of India’s top Full-service Brokers, incorporated in 1986. It offers many investment opportunities to investors like Equities, Commodities, Currencies, IPO’s, and much more.
Charges:
Let’s look at some of the charges involved while opening a Demat Account with Nirmal Bang.
Despite being a discount broker, the account opening charges are “0”. You can open an account for Free. Apart from the Demat and Trading account, you also get some additional benefits while opening an account with Nirmal Bang.
- You get a Free accidental Insurance of Rs 5 Lakh.
- Free Mediclaim Insurance for Rs 50,000.
These two benefits are free for every individual who opens an account with Nirmal Bang.
The AMC charges are Rs 200 per month. You can also pay Rs 1000 to get a lifetime free AMC.
Brokerage:
When it comes to trading, Brokerage is an essential part of trades. Being a Full-Service broker, the brokerage charges in Nirmal bang is slightly on the higher side. It charges 0.2% for Equity Delivery and 0.02% for intraday trading.
For Equity Futures the brokerage is 0.02% and Rs 30 per lot in Equity Options.
In currency Futures, the brokerage rate is 0.1% and for Currency Futures, the brokerage is Rs 10 Per Lot.
For commodities, the brokerage on Commodity Futures is 0.1%. In the case of Options, For Gold and Silver Options, The brokerage is Rs 70 Per Lot and for the remaining Rs 30 Per Lot.
Nirmal Bang Account
To conclude it can be said that Nirmal Bang is a good Full-Service Broker. The account opening is free and the AMC is also very less at Rs 200 annually. The brokerage rate is slightly higher than some of the discount brokers.
On the contrary, you get a lot of extra features like Research reports, trading tips, advisory, etc. For Commodities trading the brokerage is very high at Rs 70 Per lot for Bullion and Rs 30 for remaining commodities. So one might have to pay a lot of brokerages when trading in commodities with Nirmal Bang.
Nirmal Bang: Currency Trading
Being an authorized broker registered in NSEC, BSEC & MCXC, Nirmal Bang also offers currency trade to help clients maximize their investment profits with minimal least risk. Since currency market happens to be one of the highly volatile markets, they take pride in their research capabilities while guiding investors through upward or downfall in the currency.
They do this by hedging of the investment risk in the trade involving currency futures, provided in their reports as well as through their advisory services